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Saving for retirement with your Lifetime ISA

Apply for a Lifetime ISA
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25% government bonus on the money you invest

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New LISAs available from 18-39 years old. Transfer your existing LISA anytime.

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Open and manage your Lifetime ISA online

Using your LISA for retirement

Save up to £4,000 per tax year into your Cash Lifetime ISA until your 50th birthday. Earn a 25% government bonus on your deposits, on top of your interest rate. When you reach 60 years old you can have access to your LISA funds, without any penalty or fee.

You can open a LISA between the ages of 18 – 39 and transfer existing LISAs at any age. Deposits into your LISA can be made up to your 50th birthday, after this you’ll earn interest but no government bonus.

Finally, after your 60th birthday you have fee ­free access to all the money in your Lifetime ISA. Any money you choose to keep in your LISA after 60 will keep earning tax­-free interest.

A guide to LISAs
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Saving for retirement

Retirement might feel far away, but it’s important you’re prepared. If you decide to use your Paragon Cash Lifetime ISA towards your retirement planning, here are some important considerations:

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Is your retirement plan sustainable long term?

Committing to the Lifetime ISA is a long term plan, and your circumstances can change.

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When do you plan to retire?

Make sure your Lifetime ISA meets your retirement needs.

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What other savings and retirement planning do you have in place?

Other ISAs, a private pension plan or investments.

Find out more and apply for your Paragon Cash Lifetime ISA today

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What is a Lifetime ISA?

Learn more about how a Lifetime ISA works and if you're eligible.

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Using your LISA to buy your first home

We've put together things you need to know if you're using your LISA to buy your first home.

You should seek independent financial advice before making any changes to your pension arrangements. This information we have provided is not advice.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551